Post by : Bianca Suleiman
The World Free Zones Organization's 12th Congress took place in Panama City, themed “Free Zones in the New Global Operational Model: Challenges and Opportunities.” This gathering underscored the pivotal role of economic zones in enhancing trade and industrial progress.
Inaugurated by José Raúl Mulino, the event welcomed over 2,000 attendees, including 27 ministers, CEOs, and representatives from international organizations.
President Mulino emphasized that free zones are vital for economic freedom, international trade, and national development, asserting that investment is essential for fostering growth and increasing purchasing power.
Dr. Mohammed Al Zarooni, Chairman of the World FZO, underscored Panama's strategic position as a trade hub that faces challenges and opportunities from geopolitical changes and technological advances. He remarked on the increased significance of free zones in the current landscape.
Al Zarooni highlighted how artificial intelligence enhances customs efficiency and logistics, alongside the importance of sustainability in promoting green industries within these zones.
He noted the transition in government perspectives towards viewing free zones as assets capable of spurring innovation rather than merely regulatory frameworks.
Establishment of the Caribbean Special Economic Zones Initiative
A Memorandum of Understanding was signed to create the Caribbean Special Economic Zones Regional Association aimed at fostering collaboration among Caribbean countries, establishing unified standards, and enhancing trade.
Launch of One Zone Digital Platform
Additionally, the World FZO announced the launch of a new website for its “One Zone” platform, providing certification services, training, and resources to bolster global connections among free zones.
Executive Leadership Programme
In collaboration with INCAE Business School, the Congress introduced an Executive Leadership Programme, awarding digital certificates to about 700 attendees, marking a historic participation milestone.
Study on Tourism Special Economic Zones
The Congress also unveiled a jointly authored white paper with the United Nations Tourism Organization, investigating the evolving role of Tourism Special Economic Zones in investment strategies across the globe.
The study illustrates how the integration of tourism and economic zones offers innovative frameworks for sustainable development and investment planning worldwide.
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